Key Takeaways COIN stock fell 8.4% over the past year, underperforming the broader sector and trading at a premium to peers.Coinbase is expanding product offerings, reducing debt, and investing in AI, RWA perpetuals, and DeFi.Earnings in 2026 are forecast to drop 27.5%. Analysts have trimmed estimates and flagged valuation risks.Shares of Coinbase Global Inc. (COIN) have lost 8.4% in a year compared with its industry’s decrease of 12.6%. The sector has risen 16% and the Zacks S&P 500 composite has risen 19. ...

Photographer: Gabby Jones/Bloomberg The unbridled optimism that permeated the crypto industry during Donald Trump’s first year back in power is giving way to angst, after a much-awaited digital-asset bill was delayed in the Senate amid frenzied debate over the treatment of stablecoins. The Senate Banking Committee on Wednesday delayed its discussion of the bill, hours after Coinbase Global Inc. pulled its support for the latest version. Among elements of the bill Coinbase and other firms are lashing out ...

The top executive of the crypto exchange Coinbase scuttled a planned Senate committee vote on a major cryptocurrency bill after voicing his concerns, a sign of the company's clout. ...

智通财经APP获悉，随着备受关注的加密货币市场结构法案因围绕稳定币处理方式的激烈争论而被推迟 审议，美国总统特朗普第二任期首年弥漫在加密行业的无尽乐观情绪正被焦虑所取代。周三，在 Coinbase(COIN.US)撤回对加密货币市场结构法案最新版本的支持数小时后，美国参议院银行委员会推 迟了对备受期待的这一法案的讨论。该委员会主席Tim Scott发表声明称，由于两党谈判仍在进行，该法 案的审议将被推迟。但他没有给出新的审议日期。 据悉，Coinbase及其他数字资产公司强烈反对的条款之一，是对其向客户稳定币持仓提供收益或奖励能 力的限制。Coinbase将用户留在平台上的美元稳定币(USDC)用于生息，再把一部分利息以"奖励"名义分 给用户。法案对这一行为的潜在限制将导致Coinbase稳定币利息收入的骤减。Coinbase坚称这只是"营销 奖励"，不是"存款利息"。而银行担心这等于"高息揽储"，却不受存款准备金、FDIC保险等约束，同时 还担心此类做法可能分流传统银行存款规模。 TRM Labs全球政策与政府事务负责人阿里·雷德福德指出："稳定币奖励处于支付、类储蓄行为以及市 场激励的交汇点。"他补充称， ...

A regulatory clash between traditional banks and the cryptocurrency industry emerges as stablecoins and other digital tokens that offer attractive yields—often higher than what banks pay on deposits. Crypto platforms such as Coinbase Global (COIN) have been offering rewards ...

旨在提升数字资产合法性的市场结构法案原定于周四进行审议——这一过程包括讨论和修改。周三， Coinbase首席执行官Brian Armstrong在社交网络X上表示，由于"问题太多"，他将撤回对该法案最新文 本的支持。这一表态对法案前景构成重大打击。该法案原本旨在明确美国证券交易委员会和商品期货交 易委员会对加密货币行业的监管分工，被视为加密货币行业争取合法性的关键立法。 参议员Cynthia Lummis是该委员会的成员，她在X网站上发帖称，这样的行业反应"证明他们还没有做好 准备"。Lummis称："虽然我深感失望，但我承诺会认真听取这些反馈，并与业界合作，共同打造一款 能够帮助他们蓬勃发展的产品。" 这一延误可能会阻碍该项立法进程，而今年中期选举临近，该项立法可能更难获得通过。 众议院去年通过了自己的市场结构法案，现在参议院银行委员会和参议院农业委员会需要分别审议各自 的法案版本。之后，两份法案的文本需要合并，并与众议院的版本进行协调。 在Coinbase Global(COIN.US)撤回对加密货币市场结构法案最新版本的支持数小时后，美国参议院银行 委员会推迟了对备受期待的这一法案的讨论。委员会主席T ...

Senate Banking Committee Chair Sen. Tim Scott (R-S.C.) said late Wednesday that the committee is delaying the markup of cryptocurrency market structure legislation amid opposition from industry figures.‘Brief Pause’ To Establish ConsensusScott said in a statement that the committee is taking a “brief pause” before moving to markup and that all stakeholders involved are “working in good faith.”David Sacks, the White House Crypto Czar, said that the passage of the market structure legislation is “as close as ...

比特币近期强势反弹至两个月高点97500美元，距离突破10万美元关口仅一步之遥。这一涨势恰逢美国 参议院银行委员会准备就加密货币市场结构法案进行关键投票，但该法案的命运却因华尔街银行业与加 密货币行业围绕稳定币收益权的激烈博弈而陷入不确定性。 就在参议院银行委员会定于周四上午对法案进行审议前夜，美国最大加密货币交易所Coinbase首席执行 官Brian Armstrong突然在社交媒体上宣布撤回对该法案的支持。Armstrong表示，"我们宁愿没有法案， 也不要一个糟糕的法案"，并列举了包括限制稳定币奖励、代币化股票和去中心化金融等多项关键问 题。 但这一妥协方案显然未能满足Coinbase的要求。该公司2025年第三季度报告的稳定币相关收入达3.55亿 美元，并为其稳定币USDC的持有者提供收益。Armstrong在声明中批评草案修正案"将扼杀稳定币奖 励，让银行得以封杀竞争对手"。 法案涵盖范围引发多重担忧 除稳定币收益问题外，Armstrong还对法案的其他条款表达了强烈反对。他警告称，该提案包含对代币 化股票的"事实上的禁令"，以及可能让政府"无限制访问"用户财务记录的去中心化金融限制条款。 这一表 ...

Core Viewpoint - Coinbase has withdrawn support for the Senate Banking Committee's draft market structure bill for digital assets, expressing a preference for no bill over a poorly constructed one [1][2]. Group 1: Legislative Concerns - The Senate Banking Committee introduced a "manager's amendment" to the digital asset legislation, with a markup meeting scheduled shortly after [2]. - Coinbase CEO Brian Armstrong highlighted several issues with the draft, including a de facto ban on tokenized equities, prohibitions on decentralized finance (DeFi) that would allow government access to users' financial records, and amendments that would eliminate rewards on stablecoins [3]. Group 2: Industry Advocacy - Armstrong emphasized the need for a level playing field for cryptocurrency within the financial services sector to foster a safe and trusted industry in America [4]. - The company remains optimistic about achieving a favorable outcome through continued efforts and collaboration with stakeholders [4]. Group 3: Political Engagement - Cryptocurrency sector-backed political action committees (PACs) have emerged as significant fundraisers in the 2024 election season, raising approximately $54 million, primarily from corporate expenditures by companies like Coinbase and Ripple Labs [5]. - Armstrong's engagement with political figures, including a meeting with then President-Elect Donald Trump, indicates the industry's active involvement in shaping regulatory frameworks [5]. Group 4: Upcoming Regulatory Developments - March 2025 is noted as a critical period for the Senate regarding cryptocurrency market regulation efforts, highlighting the urgency of legislative action in the sector [6].

Bitcoin rallied, while the stock and oil markets retreated on Wednesday as geopolitical tensions and the upcoming vote on a cryptocurrency bill influenced investors’ decisions.CryptocurrencyGains +/-Price (Recorded at 8:30 p.m. ET)Bitcoin (CRYPTO: BTC)+1.23%$96,617.34Ethereum (CRYPTO: ETH)               -0.11%$3,330.89XRP (CRYPTO: XRP)                         -1.89%$2.12Solana (CRYPTO: SOL)                         +0.18%$145.81Dogecoin (CRYPTO: DOGE)             -1.84%$0.1455Bitcoin Lifts As Sentiment Turns ...